Tower SACCO Society Limited has joined Kenya’s premier financial cooperatives, celebrating its 50th anniversary with exceptional results that rank it fifth among the country’s Deposit-Taking SACCOs.
During a challenging 2025 marked by high inflation and rising living costs, the SACCO announced a 23% increase in total assetsexceeding KSh 34.5 billionat its Annual General Meeting held at the Ol’Kalou Catholic Parish Grounds.
Board Chairman Peter M. Ngugi addressed both present and virtual members via international platforms, recognizing the economic “headwinds” of the previous year. He emphasized that the organization remained resilient, sustained by member discipline and institutional integrity.
The SACCO’s membership experienced a substantial 29% growth, expanding from 192,270 in 2024 to approximately 248,000 by end-2025. This growth paralleled a 23% increase in savings and share capital, now totaling KSh 27.8 billion.
“This achievement reflects increasing public trust in our brand,” Mr. Ngugi stated. “Even amid household uncertainties, our members recognized savings as fundamental to financial security.”
In positive news for investors, the Board proposed a KSh 20 dividend per share on share capital and a 13% rebate on non-withdrawable deposits.
The Chief Guest, Patrick Nyaga, Group MD and CEO of CIC Insurance Group, praised these returns. He highlighted that the 13% yield surpasses conventional real estate (4-10%) and many premium bank deposits (7-12%), calling it an “exceptional return” in today’s market.
The organization’s ambitious expansion strategy proved successful in 2025, with new branches in Thika, Nyeri, and Mwisho wa Lami significantly contributing to financial performance. Looking ahead, the SACCO is evaluating opportunities in Eldoret, Kajiado, Mombasa, and Kenol, targeting an ambitious KSh 80 billion asset base by 2030.
To facilitate this expansion, members are being encouraged to adopt digital banking solutions. Currently, over 95% of transactions occur through the mobile app, USSD code *655#, and internet banking.
The AGM, themed “Embracing Integrity for Sustainable Growth and Member Trust,” also featured the organization’s educational initiatives. Its scholarship program currently assists 20 deserving students, with its first cohort achieving a perfect 100% university transition rate.
While discussing the government-mandated shift to a delegate system for large cooperativesfacing some local resistanceleadership stressed ongoing communication with members to ensure a smooth transition.
As Tower SACCO prepares for its official Golden Jubilee celebrations on September 15, 2026, the organization maintains a measured optimistic outlook and a steadfast dedication to the core cooperative principle of integrity.